[Code of Federal Regulations]

[Title 34, Volume 1]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 34CFR74.72]



[Page 128]

 

                           TITLE 34--EDUCATION

 

PART 74_ADMINISTRATION OF GRANTS AND AGREEMENTS WITH INSTITUTIONS OF 

HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS--Table 

of Contents

 

                 Subpart D_After-the-Award Requirements

 

Sec.  74.72  Subsequent adjustments and continuing responsibilities.



    (a) The closeout of an award does not affect any of the following:

    (1) The right of the Secretary to disallow costs and recover funds 

on the basis of a later audit or other review.

    (2) The obligation of the recipient to return any funds due as a 

result of later refunds, corrections, or other transactions.

    (3) Audit requirements in Sec.  74.26.

    (4) Property management requirements in Sec. Sec.  74.31 through 

74.37.

    (5) Records retention as required in Sec.  74.53.

    (b) After closeout of an award, a relationship created under an 

award may be modified or ended in whole or in part with the consent of 

the Secretary and the recipient, provided the responsibilities of the 

recipient referred to in Sec.  74.73(a), including those for property 

management as applicable, are considered and provisions made for 

continuing responsibilities of the recipient, as appropriate.



(Approved by the Office of Management and Budget under control number 

1880-0513)



(Authority: 20 U.S.C. 1221e-3, 3474; OMB Circular A-110)



[59 FR 34724, July 6, 1994, as amended at 60 FR 6660, Feb. 3, 1995]